Allegiant Travel Company Announces the Cessation of the Cebu Pacific A319 Transaction

Allegiant Travel Company Announces the Cessation of the Cebu Pacific A319
Transaction
LAS VEGAS, Dec. 28, 2012 (GLOBE NEWSWIRE) -- Allegiant Travel Company
(Nasdaq:ALGT) today announced its proposed transaction to acquire ten Airbus
A319 aircraft from Cebu Pacific Air has been terminated as a result of the
parties' failure to satisfy certain conditions to proceeding with the
transaction. The potential transaction was made public on July 30, 2012 after
the signing of the letter of intent.
"We are disappointed that we were not able to finalize this agreement on which
we spent a substantial amount of time and effort," said Andrew C. Levy,
Allegiant President."Unfortunately we were unable to come to terms on some of
the economic provisions of the transaction and as we have demonstrated in the
past, we will not purchase aircraft just for the sake of growth.Our
disciplined approach in asset purchases is a core competency that we will not
compromise."
"We continue to have fleet flexibility in 2013 even without the Cebu
A319s.Seven of the nine A320 aircraft, which we announced the intention to
acquire on December 19, 2012, are expected to be delivered in 2013 and we now
plan to introduce these aircraft into service at a faster pace so as to offset
the capacity that had been planned with the Cebu A319s," concluded Levy.
Allegiant is now expecting 2013 total CAPEX to be between $170 and $180
million. The company has signed operating leases for nine A319 aircraft with
GECAS and purchase agreements for nine A320 aircraft formerly operated by
Iberia.Allegiant will remain active in the market for the purchase or lease
of additional Airbus aircraft.
Allegiant, Travel is our deal.^®
Las Vegas-based Allegiant Travel Company^® (Nasdaq:ALGT) is focused on linking
travelers in small cities to world-class leisure destinations. Through its
subsidiary, Allegiant Air, the company operates a low-cost, high-efficiency,
all-jet passenger airline, and its subsidiary Allegiant Vacations offers other
travel-related products such as hotel rooms, rental cars, and attraction
tickets through its website, allegiant.com. The company has been named one of
America's 100 Best Small Companies by Forbes Magazine for four consecutive
years. For downloadable press kit, including photos, visit:
http://gofly.us/SQmY7O.
The Allegiant Travel Company logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8305
Note: This news release was accurate at the date of issuance. However,
information contained in the release may have changed. If you plan to use the
information contained herein for any purpose, verification of its continued
accuracy is your responsibility.
For further information please visit the company's investor website:
http://ir.allegiantair.com
Reference to the Company's website above does not constitute incorporation of
any of the information thereon into this news release.
Under the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, statements in this press release that are not historical facts
are forward-looking statements. These forward-looking statements are only
estimates or predictions based on our management's beliefs and assumptions and
on information currently available to our management. Forward-looking
statementsinclude, among others, our ability to consummate announced
transactions, timing of aircraft deliveries and into-service dates, future
capital expenditures and other statements about our future performance or
strategic plans. Forward-looking statements include all statements that are
not historical facts and can be identified by the use of forward-looking
terminology such as the words "believe," "expect," "guidance," "anticipate,"
"intend," "plan," "estimate", "project", "hope" or similar expressions.
Forward-looking statements involve risks, uncertainties and assumptions.
Actual results may differ materially from those expressed in the
forward-looking statements. Important risk factors that could cause our
results to differ materially from those expressed in the forward-looking
statements generally may be found in our periodic reports filed with the
Securities and Exchange Commission at www.sec.gov. Any forward-looking
statements are based on information available to us today and we undertake no
obligation to update publicly any forward-looking statements, whether as a
result of future events, new information or otherwise.
CONTACT: Media Inquiries: Brian Davis: mediarelations@allegiantair.com
Investor Inquiries: Christopher Allen: ir@allegiantair.com
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